The House of Peoples Representatives (HPR) in its regular session today approved a $280 million loan agreement signed with the International Development Association (IDA).
The loan, secured from the international financial institution which offers concessional loans and grants to the world’s poorest developing countries, would be utilized to implement development projects in pastoral areas.
The development projects would be realized in 100 woredas of Afar, Gambella, Benishangul Gumuz, Oromia, Somali and SNNP regional states. The projects would benefit 2.5 million pastoral communities.
Similarly, the House approved the $22 million loan agreement signed with OPEC Fund for International Development (OFID) for the implementation of the Dilla-Bulle-Haro Wachu road project.
The project would contribute a lot to the economic development of Ethiopia through upgrading of the road in the southern-eastern region of the country.
The project mainly aims at reducing the time and cost of travel and increasing mobility, improving safety on the road as well as raising the standards of living of the population in Gedeo and Guji Zones and enhancing trade activities.